HomeMinnesotaLincoln CountyLake Benton
Lake Benton, Minnesota: commercial real estate data.
Lake Benton is a Census city of 794 people across 3.21 square miles of land, in Lincoln County. Median household income is $52,250, 73.9 percent of occupied homes are owned, and the SBA record carries 2 7(a) approvals to borrowers here worth $231,000 since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Lake Benton
What Lake Benton is
- Census place typecity
- Land area3.21 sq mi
- Water area0.84 sq mi
- Population per square mile of land248
- County holding the largest share of its areaLincoln County, 100.0 percent
US Census Bureau, cartographic boundary file, places, 2024 vintage. US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Lake Benton
How many people live in Lake Benton
- Population794
- Median age37.5 plus or minus 8.2
- Population under 18197 plus or minus 40
- Share under 1824.8 percent
- Population 65 and over172 plus or minus 40
- Share 65 and over21.7 percent
- Households372
- Family households214
- Share of households that are families57.5 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Lake Benton
Income and work in Lake Benton
- Median household income$52,250 plus or minus $17,805
- Per capita income$30,794
- Civilian labor force399
- Employed385
- Unemployed14 plus or minus 11
- Unemployment rate3.5 percent plus or minus 2.7
- Adults 25 and over514
- Adults 25 and over with a high school diploma or higher97.3 percent
- Adults 25 and over with a bachelor degree or higher22.6 percent plus or minus 5.1
- Adults 25 and over with a graduate degree4.7 percent plus or minus 2.9
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Lake Benton
Housing in Lake Benton
- Housing units432
- Occupied units372
- Vacant units60 plus or minus 30
- Vacancy rate13.9 percent plus or minus 6.7
- Owner occupied275
- Renter occupied97 plus or minus 29
- Ownership rate73.9 percent
- Median owner-occupied home value$99,800 plus or minus $26,203
- Median gross rent, monthly$513 plus or minus $124
- Annual rent as a share of median income11.8 percent plus or minus 4.9
- Single family units365
- Share single family84.5 percent
- Units in buildings of two or more64 plus or minus 26
- Share in buildings of two or more14.8 percent plus or minus 5.7
- Mobile homes3 plus or minus 4
- Median year structure built1961
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Lake Benton
How Lake Benton gets to work
- Workers 16 and over who commute342
- Commuting under 15 minutes142 plus or minus 35
- Share commuting under 15 minutes41.5 percent
- Commuting 30 minutes or more116 plus or minus 36
- Share commuting 30 minutes or more33.9 percent plus or minus 8.3
- Drove alone72.8 percent
- Carpooled13.6 percent plus or minus 4.9
- Public transport0.0 percent
- Walked2.9 percent plus or minus 2.8
- Worked from home10.7 percent plus or minus 5.4
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Lake Benton
SBA loans in Lake Benton (7(a))
- Approvals2
- Gross approval$231,000
- Average approval$115,500
- Median approval$115,500
- Largest approval$150,000
- Jobs supported13
- Jobs per approval6.5
- Loans with a final outcome1
- Paid in full1
- Charged off0
- Median term150 months
- Share on real estate terms of 20 years or more0.0 percent
- Share to franchises0.0 percent
- Distinct lenders2
- Distinct industries by NAICS2
Counted by borrower city: approvals to borrowers whose address is in Lake Benton, in any county, FY2020 to FY2026. Only 1 loan has reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Lake Benton
Flood risk in Lake Benton
- NFIP communityCity of Lake Benton
- NFIP community number270692
- Participating in the NFIPYes
- Community Rating System classNone
- Currently effective map date09/07/23(M)
The City of Lake Benton participates in the National Flood Insurance Program as community 270692 and carries no Community Rating System class, so no CRS premium discount applies to it.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Lincoln County, not Lake Benton
Lincoln County context, not Lake Benton figures
- Establishments in Lincoln County183
- Covered employment, Lincoln County1,684
- Average annual pay, Lincoln County$45,358
- Housing units permitted, Lincoln County16
Every figure in this section is published for Lincoln County as a whole and is not a measurement of Lake Benton.
US Census Bureau, County Business Patterns, 2023. US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages. US Census Bureau, Building Permits Survey, 2024 annual.
Coverage
What this page does not hold.
Parcel detail, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
Common questions
Lake Benton questions, answered from the record.
How many people live in Lake Benton, Minnesota?
794, in 372 households. Lake Benton city covers 3.21 square miles of land, which is 248 people per square mile. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
What county is Lake Benton in?
Lincoln County, which holds 100.0 percent of the place by area. Source: US Census Bureau, cartographic boundary file, places, 2024 vintage.
What is the median household income in Lake Benton?
$52,250. The median owner-occupied home is valued at $99,800. Median gross rent is $513 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
How much SBA lending goes to Lake Benton businesses?
2 7(a) approvals totaling $231,000 since FY2020, across 2 lenders, median approval $115,500. These count approvals to borrowers whose address is in Lake Benton, not projects sited inside the place boundary, and they are approvals recorded in the release rather than loans disbursed.
Do SBA loans to Lake Benton borrowers get paid back?
No rate is published for Lake Benton. Only 1 loan has reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published. The counts are shown instead.
Is Lake Benton in the National Flood Insurance Program?
Yes. Lake Benton appears in the FEMA Community Status Book as Lake Benton, city of, community 270692, with no Community Rating System class, so no CRS discount applies. Whether a specific parcel sits in a mapped special flood hazard area is an address level question the platform answers.
Are the county figures on this page Lake Benton figures?
No, and they are labeled so. County Business Patterns, QCEW, the Building Permits Survey, BEA product and IRS migration are published for Lincoln County as a whole and there is no place level equivalent. They appear in one clearly marked section as context and are never presented as measurements of Lake Benton.
Is zoning published for Lake Benton?
No. Nothing on this page presents parcel level zoning.
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